Zacks Investment Research Downgrades Monarch Casino & Resort (MCRI) to Hold

Zacks Investment Research lowered shares of Monarch Casino & Resort (NASDAQ:MCRI) from a buy rating to a hold rating in a research report released on Wednesday morning.

According to Zacks, “Monarch Casino & Resort, Inc. is dedicated to deliver the ultimate guest experience by providing exceptional services as well as the latest gaming, dining and hospitality amenities. With a main focus on their guests’ superior expectations, they continue to aggressively reinvest in our properties. As a market leader, they invite them to become more familiar with their company, their operations and their management team. Monarch Casino & Resort, Inc., through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado, approximately 40 miles west of Denver. “

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Other equities analysts also recently issued research reports about the company. BidaskClub raised Monarch Casino & Resort from a hold rating to a buy rating in a research report on Thursday, February 8th. ValuEngine raised Monarch Casino & Resort from a hold rating to a buy rating in a research report on Friday, February 2nd. Finally, Jefferies Group started coverage on Monarch Casino & Resort in a research report on Thursday, January 18th. They set an underperform rating and a $39.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Monarch Casino & Resort presently has an average rating of Hold and a consensus price target of $50.80.

MCRI stock opened at $41.13 on Wednesday. The firm has a market capitalization of $752.42, a P/E ratio of 29.59 and a beta of 1.20. The company has a current ratio of 1.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.10. Monarch Casino & Resort has a 12-month low of $28.37 and a 12-month high of $47.92.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.10). The company had revenue of $56.06 million for the quarter, compared to the consensus estimate of $57.95 million. Monarch Casino & Resort had a net margin of 11.07% and a return on equity of 10.65%. analysts forecast that Monarch Casino & Resort will post 1.86 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCRI. Millennium Management LLC increased its position in shares of Monarch Casino & Resort by 232.8% during the 4th quarter. Millennium Management LLC now owns 116,937 shares of the company’s stock valued at $5,241,000 after purchasing an additional 81,798 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Monarch Casino & Resort by 68.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 168,262 shares of the company’s stock valued at $7,542,000 after acquiring an additional 68,189 shares during the last quarter. EAM Investors LLC bought a new position in Monarch Casino & Resort in the 3rd quarter valued at $2,200,000. Acadian Asset Management LLC grew its position in Monarch Casino & Resort by 373.2% in the 4th quarter. Acadian Asset Management LLC now owns 51,402 shares of the company’s stock valued at $2,303,000 after acquiring an additional 40,540 shares during the last quarter. Finally, Whittier Trust Co. bought a new position in Monarch Casino & Resort in the 4th quarter valued at $1,731,000. 60.91% of the stock is currently owned by hedge funds and other institutional investors.

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Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s segments include Atlantis and Monarch Casino Black Hawk.

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Analyst Recommendations for Monarch Casino & Resort (NASDAQ:MCRI)

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